Serving Members Since 1954 The Newsletter of the APLFCU Community Spring 2007
Historically low mortgage rates and stable property
prices are encouraging consumers to buy real estate
today. In fact, average rates on 30-year home loans
fell more than half a percentage point in the second
half of 2006, while many areas of the country have
seen housing prices level off or even decrease after
several years of double digit increases.
Even existing homeowners looking to stay put are
realizing that this may be a good time to refinance, money you have for a down payment and closing costs, how
especially consumers with adjustable rate mortgages that long you intend to live in the home and how much house
have recently repriced to a higher rate. Depending on the you wish to purchase. That's why we offer an array of
loan rate structure, these increases can add hundreds of options:
dollars to the monthly mortgage payment, making it very Cash Out Refinances
beneficial to switch to a lower fixed-rate mortgage while Jumbo Mortgages
rates are favorable. Fixed 15-, 20-, 25- and 30-yr mortgages
Not sure which loan type is best for you? APL Federal Interest Only Loans
Credit Union offers a wide variety of great mortgage Up to 100% Purchase First Mortgages
products at competitive rates to accommodate all sorts of 80-10-10's and other Piggyback Mortgages
financial situations. Whether you are looking to secure a Adjustable Rate Mortgages (ARMs)
standard fixed- or adjustable-rate first mortgage, refinance Unimproved Land Loans
an existing mortgage, or acquire special financing to get you When financing your home, trust means a lot. APL Federal
into your dream home, APLFCU can help. We specialize in Credit Union offers the best of both worlds: the full services
the purchasing and refinancing of primary residences and of larger institutions without the origination fees, and
second homes in Maryland, Pennsylvania, Virginia, West personalized service that is our hallmark. Stop by our main
Virginia, Delaware and Washington, DC. office on Johns Hopkins Road to speak with a member of
We realize that not every loan type is right for every our real estate team, or give us a call at 443-778-5250.
consumer. Numerous factors play a part in determing which For more information on our real estate offerings, click the
loan is best for you, such as your cash flow, how much Mortgages & Home Equity tab on our Web site: aplfcu.org.
INSIDE THIS ISSUE
2 Checkyou won the lottery?
3 Give themYour APLFCU tools
4 APLFCU Updatesat news
Check out the latest
Pay just $50 to get $50,000 the and “happenings” the
sent by certified check. Be they need when they begin credit union.
careful of the latest scams. that new adventure.
Don’t Accept That Check Too Quickly
Fake Check scams are clever ploys designed to steal your money. There are many variations but the “lottery” and
“sweepstakes” scams are the most common. These phony postal money orders or fake cashier’s checks can look so real that
some tellers need to ask branch managers for a second opinion. You can avoid becoming a victim by recognizing how these
scams work and understanding your responsibility for the checks that you deposit into your account.
WATCH OUT FOR:
1. Letters from a foreign country stating you won their international lottery. They send you a fake cashier's check, which you
deposit. They ask you to call them when it clears and then to wire a portion of the money back to get the full prize amount.
In most cases there will be conflicting locations listed on the letter. It may be a Swiss Lotto, but the address is in Seattle and
you are instructed to call a phone number with a North Carolina area code.
2. Wire requests are often the second half of a check scam. They will send you a
fake check and ask you to wire money back. The wired money is instantly removed
from your account and the fake check is still waiting to be detected as counterfeit.
D i d Yo u
3. Online auction sellers must be wary of purchasers that insist on sending a
shipping company to deliver the certified check upon purchase pick-up. Once they Know
give you the phony check they’ve walked with your valuable item.
In some cases, law enforcement
You are responsible for the checks you authorities could bring charges
deposit!!!You are in the best position to determine
the risk. You're the one dealing directly with the against you, because it may look as
person sending the check to you. When a check though you were involved in the
bounces, the financial institution deducts the amount scam and knew or suspected the
that was originally credited to your account. If there
isn't enough to cover it, the financial institution may check was counterfeit. Protect
take funds from other accounts you have at that yourself by only accepting checks
institution, or sue you to recover the funds. In some from people you know. If you have
cases, law enforcement authorities could bring
any doubt, have a manager at the
charges against you, because it may look as though
you were involved in the scam and knew or credit union verify the validity of
suspected the check was counterfeit. When in doubt, the item.
speak to a manager of the credit union about your
deposit. We can help you to verify the validity of the
check and possibly save your hard-earned money!
2 APLFCU’S QUARTERLY CONNECTION / SPRING 2007
Prepare Your College Bound Kids!
Your high school graduate is looking forward to spreading their wings and
living life on their terms - in their new college environment. Some of them
may move out of your home to attend college while others may commute to
campus. But no matter what scenario plays out in your household, your
graduate may face new situations they have not dealt with in the past.
You want your child to be money conscious and to spend wisely, but you also
want to feel secure that they have access to extra money should unexpected
expenses arise. How will you get them the money they need without a long
time delay? With APL Federal Credit Union's Visa® Check Card.
Signing your new student up for a Visa® Check Card gives you the ability to
transfer funds from your primary account to your child's checking account.
And transferring funds through Online Banking will make the money
available for instant use. Plus, when you equip your child with this card you
can instill a learning process of budgeting while being able to monitor their
spending habits. With high-limit credit cards, you don't have the same amount
of control. A young adult can quickly run a credit card up to its limit because
the entire credit line is available for use.
Here are a few quick facts about our Visa® Check Card
It's FREE - no monthly service fees.
Use the Visa® Check Card anywhere that Visa is accepted.
It's like writing a check! There's no need to use a personal
identification number (PIN) for purchases.
It works like a traditional ATM Card. Withdraw from your APLFCU
savings or checking account. Access your account at ATMs 24 hours
a day to obtain balances, transfer between accounts or make an
advance from your line of credit. Pay No Surcharge Fees when using
the card at any of the 32,000 ALLPOINT ATMs located throughout
Increase your purchasing power and peace of mind with Overdraft
Protection through a Line of Credit.
Get your child on the right path to financial responsibility with the ability to reward positive saving and spending habits.
Stop by one of our branch locations to set up a new membership and order your college bound child a Visa® Check Card.
You will also need to fill out a Cross-Member Transfer Authorization that will allow you to transfer money between
accounts. Make the college experience a little less stressful by setting up the safety nets before they leave.
APLFCU’S QUARTERLY CONNECTION / SPRING 2007 3
Credit Union Updates
OPEN A HELOC TODAY
P.O. Box 418 Laurel, MD 20725 Our home Equity Lines feature no
MAIN OFFICE closing costs and no minimum
11050 Johns Hopkins Road draw requirement. You can use the
Laurel, MD 20723
proceeds for almost any purpose,
443-778-5250 * 240-228-5250
800-367-5796 (out of area)
including home improvement
Ext. 85250 (inside JHU/APL) projects, vehicle purchases,
Fax: 240-228-5545 wedding expenses, debt
consolidation or refinancing --
APL CAMPUS BRANCH
11100 Johns Hopkins Road
all with the added benefit of
Laurel, MD 20723 significant tax savings.
443-778-5251 * 240-228-5251
Ext. 85251 (inside JHU/APL)
MCGAW ROAD BRANCH
Switching to direct deposit is a small but important way that
8870 McGaw Road
Columbia, MD 21045
people who get Social Security and Supplemental Security
443-778-5250 * 240-228-5250 Income (SSI) checks can improve their lives. And it takes
just a few minutes to sign up.
Call Center Hours:
Mon. through Fri. - 8:00 am to 5:00 pm
APLFCU is proud to partner with Go Direct - a campaign
Saturday - 9:00 am to Noon sponsored by the U.S. Department of the Treasury and the
Federal Reserve Bank to inform people who receive federal
Audio Response: benefits about the advantages of direct deposit.
301-604-8438 or 800-382-1993
Ext. 85858 (inside JHU/APL) With direct deposit, you have:
The safest method of receiving your payment
Main Office/McGaw Road
Lobby Hours: An easier, more convenient way to access your money
Mon. through Fri. - 8:30 am to 4:30 pm
Control over your money and your time
Saturday - 9:00 am to Noon
Plus, signing up is quick and easy - call 800 333-1795 or sign up online at
Mon. through Fri. - 8:00 am to 6:00 pm
Saturday - 9:00 am to Noon
APL Campus Branch
IRA REQUIRED MINIMUM DISTRIBUTIONS (RMD)
Mon. through Fri. Individual Retirement Account (IRA) regulations require that you begin withdrawing
8:30 am - 4:30 pm money from your IRA plan when you reach age 70 ½. If you turned 70 ½ prior to
January 1, 2006, you must withdraw your 2007 required minimum distribution by
Web site Address: aplfcu.org December 31, 2007.
E-mail Address: email@example.com
If you would like to set up your RMD for an automatic withdrawal please visit the
Online Bill Pay Support: credit union to fill out an IRA Withdrawal Statement form.
Lost or Stolen Visa Card:
After hours and weekends
In observance of Memorial Day,
255077998 the credit union will be closed Monday, May 28th.
Current Rates: You may still access Online Banking or one of our
Visit aplfcu.org 32,000 surcharge-free ATMs throughout the
Call Audio Response
Contact Member Services
holiday to fulfill your banking needs.
Stop by an APLFCU branch
Your savings federally insured to at least $100,000
nd backed by the full faith and credit of the United States Government
National Credit Union Administration, a U.S. Government Agency
Member of the National
4 APLFCU’S QUARTERLY CONNECTION / SPRING 2007
Federal Credit Unions